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Bitcoin Suisse chairman Luzius Meisser says EU lawmakers are pursuing a "containment" strategy to protect the traditional financial system from the toxicity of the crypto economy. He says the strategy could be beneficial to both crypto and the traditional finance marketplace. Meissinger: "Containment" is one of four strategies the firm has outlined for the EU.
Wall Street’s worst year since 2008 wreaked havoc on tech companies, particularly those reliant on digital advertising. Facebook parent Meta lost almost two-thirds of its value in 2022 as year-over-year revenue fell in consecutive quarters, leading the company in November to cut 13% of its workforce. Snap’s stock plummeted 81% as growth dipped into the single digits, and the company opted not to provide a forecast for two straight periods. In August, Snap said it was laying off 20% of its employees.
Memory-chip prices, which dropped steeply over the past year, are expected to keep falling in the first half of 2023, putting more pressure on an industry that has already cut investments and jobs. Average prices for the two main types of memory chips used in everyday electronics—from smartphones to personal computers and TV sets—are projected to experience double-digit percentage declines this quarter, industry analysts say. That comes after prices dropped by more than 20% in the last three months of 2022 from the previous quarter, according to analyst data.
San Francisco city officials have sent letters to the California Public Utilities Commission asking to slow or halt the expansion of Cruise and Waymo robotaxi services. San Francisco Transportation Authority officials wrote that unlimited expansion would be "unreasonable" in light of recent safety incidents in which vehicles blocked traffic.
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